Bitcoin Consolidates in Key $60K-$75K Range as Sellers Stay in Control
- Bitcoin holds the $60K-$75K range as weak demand keeps sellers firmly in control.
- Glassnode shows large holders realizing over $200M in daily losses during the pullback.
- Open interest and futures volume fell sharply, reflecting weaker conviction across BTC.
Global crypto markets remained under pressure as Bitcoin continued to trade inside a closely watched $60,000 to $75,000 band. The extended range-bound move kept attention on seller dominance, while broader uncertainty limited any sustained recovery across major trading venues.
At press time, the asset changed hands near $66,873, up 0.66% from the previous day. However, weekly losses stood at 2%, while the monthly drop exceeded 6%. Market capitalization was about $1.33 trillion, and trading volume fell by more than 9% to $33.48 billion, indicating weaker turnover in the current phase.
Analysts Track a Market Still Leaning Lower
Crypto analyst Michaël van de Poppe said the structure still reflected a downward trend, with upside attempts repeatedly sold into. He projected that the Bitcoin price could revisit recent lows in early April before any rebound, highlighting a market that had not yet broken out of sell-side pressure.
His chart outlined a broader decline and marked the end of what he described as “constant higher lows.” That shift pointed to fading short-term support. The same structure identified $100,739 as a major upper barrier, while downside zones were placed near $65,117, $60,749, $59,600, and $56,560.
Van de Poppe also identified $74,505 and $80,646 as intermediate levels above the current price. Those markers showed where BTC would need to recover ground before any stronger reversal narrative could enter the discussion. For now, the chart reflected repeated rejection after relief moves.
Glassnode Data Shows Large Holders Realizing Heavy Losses
A separate chart from Glassnode added a deeper layer to the sell-side picture. The on-chain analytics firm said sharks and whales holding between 100 and 10,000 BTC were realizing losses at scale during the latest retreat from the all-time high.
According to Glassnode, the seven-day moving average of realized loss for those cohorts climbed above $200 million per day. The firm described that pattern as typical capitulation behavior among larger entities, placing additional focus on the stress faced by larger holders during the recent contraction.
Its chart showed realized-loss spikes building from late 2025 into early 2026 as the market fell from above $100,000 toward the low-$60,000 to high-$60,000 region. By early April, the price line hovered near $70,000, while realized-loss bands for the 100–1,000 BTC and 1,000–10,000 BTC groups stayed elevated.
Related: The Future of Altcoins Looks More Like Nasdaq Than DeFi: Here’s Why
Derivatives Activity Cools as Traders Close Positions
Derivatives data also aligned with the weaker tone. Open interest dropped to $47.64 billion over the past 24 hours, indicating that traders were closing positions rather than adding fresh exposure. That pullback reflected a more cautious posture as conviction thinned across the market.
Futures volume also fell sharply, dropping 15% over the same period to $62.59 billion. The decline pointed to reduced participation in BTC-linked contracts and weaker short-term appetite among derivatives traders. Combined with softer spot turnover, the figures reinforced the view of a market still operating without strong upside momentum.
Taken together, price action, on-chain behavior, and derivatives data all described the same environment. Bitcoin remained trapped inside a critical range, while elevated realized losses, lower open interest, and weaker futures activity kept sellers firmly in control.
